CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Receives $13.63 Consensus PT from Analysts

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) has earned a consensus rating of “Moderate Buy” from the eight ratings firms that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $13.63.

Several research analysts have issued reports on the stock. Barclays raised their price objective on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 29th. Barrington Research reaffirmed an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a report on Thursday, February 29th. Piper Sandler lifted their target price on shares of CCC Intelligent Solutions from $11.00 to $13.00 and gave the company a “neutral” rating in a report on Friday, March 1st. Evercore ISI lifted their target price on shares of CCC Intelligent Solutions from $13.00 to $15.00 and gave the company an “outperform” rating in a report on Wednesday, March 13th. Finally, Citigroup reaffirmed a “buy” rating and issued a $13.00 target price on shares of CCC Intelligent Solutions in a report on Thursday, February 8th.

Insider Buying and Selling

In related news, Director Lauren Young sold 41,165,139 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $11.33, for a total transaction of $466,401,024.87. Following the sale, the director now owns 5,164,022 shares of the company’s stock, valued at $58,508,369.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other CCC Intelligent Solutions news, CAO Rodney Christo sold 30,000 shares of CCC Intelligent Solutions stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $12.50, for a total transaction of $375,000.00. Following the completion of the transaction, the chief accounting officer now owns 14,154 shares in the company, valued at $176,925. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lauren Young sold 41,165,139 shares of CCC Intelligent Solutions stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $11.33, for a total transaction of $466,401,024.87. Following the transaction, the director now owns 5,164,022 shares of the company’s stock, valued at approximately $58,508,369.26. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,706,755 shares of company stock valued at $681,785,331. Corporate insiders own 6.47% of the company’s stock.

Hedge Funds Weigh In On CCC Intelligent Solutions

A number of institutional investors have recently modified their holdings of CCCS. Vanguard Group Inc. increased its position in CCC Intelligent Solutions by 34.0% during the fourth quarter. Vanguard Group Inc. now owns 23,809,077 shares of the company’s stock worth $271,185,000 after purchasing an additional 6,043,282 shares during the last quarter. Brown Advisory Inc. increased its position in CCC Intelligent Solutions by 128.7% during the fourth quarter. Brown Advisory Inc. now owns 10,436,353 shares of the company’s stock worth $118,870,000 after purchasing an additional 5,873,823 shares during the last quarter. Conestoga Capital Advisors LLC increased its position in CCC Intelligent Solutions by 526.7% during the first quarter. Conestoga Capital Advisors LLC now owns 6,310,340 shares of the company’s stock worth $75,472,000 after purchasing an additional 5,303,425 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in CCC Intelligent Solutions by 59.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 10,312,688 shares of the company’s stock worth $123,340,000 after purchasing an additional 3,861,020 shares during the last quarter. Finally, Norges Bank acquired a new position in CCC Intelligent Solutions during the fourth quarter worth approximately $30,102,000. Institutional investors and hedge funds own 95.79% of the company’s stock.

CCC Intelligent Solutions Price Performance

Shares of NYSE:CCCS opened at $11.50 on Monday. CCC Intelligent Solutions has a 12 month low of $8.42 and a 12 month high of $13.41. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.29 and a quick ratio of 2.29. The firm has a market capitalization of $6.95 billion, a P/E ratio of -54.76 and a beta of 0.62. The company’s fifty day moving average price is $11.75 and its 200 day moving average price is $11.50.

CCC Intelligent Solutions (NYSE:CCCS) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.01). CCC Intelligent Solutions had a positive return on equity of 5.80% and a negative net margin of 10.67%. The business had revenue of $228.60 million for the quarter, compared to analysts’ expectations of $222.80 million. As a group, sell-side analysts predict that CCC Intelligent Solutions will post 0.18 earnings per share for the current fiscal year.

CCC Intelligent Solutions Company Profile

CCC Intelligent Solutions Holdings Inc, operates as a software as a service company for the property and casualty insurance economy in the United States and China. The company's cloud-based software as a service platform connects trading partners, facilitates commerce, and supports mission-critical, artificial intelligence enabled digital workflow across the insurance economy, including insurers, repairers, automakers, parts suppliers, lenders and more.